Zillow Group (NASDAQ:ZG) Given New $50.00 Price Target at Canaccord Genuity Group

Zillow Group (NASDAQ:ZG) had its price objective decreased by Canaccord Genuity Group from $58.00 to $50.00 in a research note published on Monday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Benchmark increased their price objective on shares of Zillow Group from $57.00 to $60.00 and gave the stock a buy rating in a report on Thursday, January 25th. Bank of America lowered Zillow Group from a buy rating to a neutral rating in a research note on Wednesday, January 10th. Susquehanna lifted their price objective on Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. DA Davidson reaffirmed a buy rating and issued a $63.00 target price on shares of Zillow Group in a research note on Friday, April 5th. Finally, JMP Securities restated a market outperform rating and issued a $68.00 price objective on shares of Zillow Group in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $58.20.

Zillow Group Stock Performance

ZG opened at $43.11 on Monday. The firm’s fifty day moving average price is $48.30 and its two-hundred day moving average price is $47.65. Zillow Group has a fifty-two week low of $33.23 and a fifty-two week high of $59.23. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.06. The company had revenue of $474.00 million for the quarter, compared to the consensus estimate of $450.75 million. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. On average, equities analysts anticipate that Zillow Group will post -0.15 EPS for the current year.

Insider Activity

In other Zillow Group news, insider Dan Spaulding sold 3,086 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total value of $178,988.00. Following the sale, the insider now owns 48,294 shares in the company, valued at $2,801,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Susan Daimler sold 15,206 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $56.36, for a total value of $857,010.16. Following the transaction, the insider now owns 36,148 shares in the company, valued at approximately $2,037,301.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Dan Spaulding sold 3,086 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total transaction of $178,988.00. Following the sale, the insider now owns 48,294 shares of the company’s stock, valued at $2,801,052. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently modified their holdings of ZG. Norges Bank bought a new position in Zillow Group during the 4th quarter worth $102,096,000. Vanguard Group Inc. increased its position in shares of Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after purchasing an additional 1,730,731 shares during the period. Qube Research & Technologies Ltd raised its stake in Zillow Group by 50.5% in the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares in the last quarter. UBS Group AG lifted its position in Zillow Group by 73.0% during the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock worth $23,832,000 after purchasing an additional 177,265 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Zillow Group by 244.2% during the first quarter. Assenagon Asset Management S.A. now owns 171,881 shares of the technology company’s stock worth $8,226,000 after buying an additional 121,942 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.